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The ONE Thing

323. Why Top Talent Leaves and How to Fix It

The ONE Thing

NOVA Media

Entrepreneurship, Business, Careers

4.81.1K Ratings

🗓️ 1 November 2021

⏱️ 30 minutes

🧾️ Download transcript

Summary

Over a trillion dollars were lost to voluntary turnover in the USA last year alone. Replacing an employee costs an average of between 1.5 and 2 times their annual salary – and that’s a conservative estimate. The salt in the wound? 52% of people who leave for a new job say that their management could have done something to keep them. So, how can you help your organization avoid becoming part of these unfortunate statistics?  Can you give yourself permission to make your world so big that, when someone steps into it, they can have everything they want and never need to leave?  Do you know the right questions to ask during the hiring process, questions that make instant connections and enable you to make a true commitment to each other that benefits both parties? As you listen to this episode, pay attention to how simple it can be to turn turnover around – and if you’re the employee in this equation, know what you need to ask from your employer to make your job one that you never want to leave. Finding your ONE Thing could be easier than you think. One of the best things you can do to solidify your path on this journey is to join us at our Goal Setting Retreat so that you’ll have the tools to know what you want out of your career five years or just five months from now. Find out more by heading to the1thing.com/setmygoals. And leaders: head to https://the1thing.com/corp-signup-v2 to request a one-on-one consultation where we can help you overcome your hiring and turnover challenges.  To learn more, and for the complete show notes, visit: the1thing.com/pods. In this episode, you will learn... [01:00] About the big problem of turnover in business and how it’s only getting worse [04:40] How to enlarge your world so as to become the kind of person other people never want to leave [06:50] About investing in your workers so that everyone wins Mentioned in this episode: Factor 75 Head to FactorMeals.com/one50 and use code one50 to get 50% off. That’s code one50 at FactorMeals.com/one50 to get 50% off! Factor 75

Transcript

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0:00.0

This is the one thing podcasts where we teach you the surprisingly simple truth behind

0:06.1

extraordinary results.

0:07.1

I'm your host, Jeff Woods.

0:11.5

Time is your most valuable resource.

0:14.5

The problem is most people are spending their time.

0:18.2

They're not investing it.

0:21.5

Think about it.

0:22.5

If you've ever invested money before, you had an expectation of something when you made

0:26.2

a financial investment.

0:28.0

You expected a return on your investment.

0:31.1

And while we know that time is more valuable than money, we don't always hold our time

0:36.3

to the same standard we hold our dollars to.

0:39.2

And that's because every one of us has too much to do and not enough time.

0:43.9

The challenge is, if you're not clear about what matters most, you can end up working

0:49.5

long hours to achieve decent results, but to cheat yourself out of what it means to

0:55.4

live a life.

0:57.0

And that's why our business exists.

0:59.6

We help you and leadership get clarity on what matters most so you achieve extraordinary

1:05.0

results both professionally and personally.

1:09.2

The challenge is no one succeeds alone.

1:12.7

And that's the purpose of this episode.

1:15.3

While every single one of us can accomplish amazing things in our life as an individual,

...

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